Kirkland & Ellis LLP advised Indigo Minerals LLC on its $375 million equity capital raise and the acquisition of certain producing properties and undeveloped acreage in the core of the Cotton Valley and Haynesville plays from a private exploration and development company. Pro forma for the acquisition, Indigo holds approximately 160,000 net acres in Northwest Louisiana and East Texas in addition to a significant portfolio of minerals and leasehold interests across 15 states. Indigo is the 10th largest private producer of natural gas in the United States with year-end SEC proved reserves of 1.27 Tcf. Kirkland represented Indigo on the equity raise, asset acquisitions and related debt financing. The full release is available here.
The capital raise was led by Trilantic Capital Management LP, which invested $300 million in Indigo, in partnership with the company's existing investors, including the Martin Companies, LLC, Yorktown Partners LLC and Ridgemont Equity Partners, which together invested $75 million of additional equity in the company.
The Kirkland team was led by corporate partners Andy Calder, John Pitts, David Castro and Anthony Speier and associates Cy Jones, David Thompson, Adam Prestidge, Leslie Vaughn, Chris Heasley and Ryan Martin; debt finance partners Will Bos and Andy Veit; environmental partner Paul Tanaka; and tax partner Tom Evans.